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Online multi-brand EV store BLive raises USD 1 million

Online multi-brand EV store BLive raises USD 1 million

Electric Vehicle

Online multi-brand EV store BLive raises USD 1 million

Online multi-brand EV store BLive has raised USD 1 million (around Rs 7.25 crore), as part of follow-on capital of Pre-Series A round, led by Lets Venture, Mumbai Angels, Credit Wise Capital and JITO along with some HNIs. The fresh capital raised is planned to be invested in people, processes and technology to scale up the company’s presence across India, said Sandeep Mukherjee, Co-Founder and COO, BLive. A major part of the investment will be utilised towards brand building and customer acquisition for electric vehicle (EV) marketplace, BLiveEV Store, he said.

Earlier, the company had raised Rs 1 crore in seed capital, he added. Founded in 2018 by Samarth Kholkar and Sandeep Mukherjee, BLive offers experiential, guided tours on electric bikes with an aim to promote sustainable tourism in the country. It is the official EV tourism partner of Goa Tourism, according to the company release. The company has also partnered with Club Mahindra, Taj Hotels, Grand Hyatt, Airbnb, among others it said.

Also read: Smart Joules raises $4.1 million Series A from Sangam, ADB Ventures, Burman Family Office, Max I. Limited, cKinetics Accelerator and other marquee investors

“In 2020, despite the impact of the pandemic, BLivehas crossed 10,000 ebike tours and has successfully launched operations in 14 locations across nine states. This year, we plan to expand to 25 locations and launch 20 offline retail stores,” Mukherjee said. In 2020 BLive launched India’s first online EV marketplace offering top brands of e-cycles and scooters of all major brands. It has also started an ‘exchange and upgrade’ programme that is aimed to promote the adoption of electric vehicles, the company said.

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